As the festive season approaches, airlines in Nigeria, including Air Peace, Arik Air, and others, have witnessed a substantial surge in ticket prices, with the demand for air travel reaching new heights. The escalating cost of economy and other ticket classes is attributed to the holiday season, coupled with the challenges in the aviation fuel sector.
According to an investigation by ThisDay, the base fare for economy tickets now ranges from N80,000 to approximately N150,000. The business class ticket, as of November 22, was priced at N110,000, but there are indications that it may surpass N200,000. A protocol officer highlighted the high demand, stating that economy tickets for December are already sold out.
“Economy class begins at N80,000. It is no more N50,000, and as we are talking, the flights available are fully booked. We just hope that airlines will add more flights, but even at that, the fares will still be high and will continue to rise. As Christmas draws nearer, the fares will increase,” mentioned the protocol officer.
Despite the soaring prices, people are actively purchasing tickets, and airports are experiencing increased footfall. The limited availability of aircraft and seats is cited as a major factor contributing to the escalating costs.
Chris Ndulue, the Chief Operating Officer of Cleanserve Energy and former Managing Director of Arik Air, clarified that the stability of aviation fuel prices is not the cause of the surge. Instead, he emphasized that the Christmas period is traditionally the peak season for Nigerian carriers, and ticket costs naturally rise during this time.
Kingsley Ezenwa, the head of communications at Dana Air, explained that the average fuel cost, ranging from N950 to N1000 per litre, is a contributing factor to the fare increase. He further highlighted the challenges faced by airlines, such as exchange rate fluctuations and expenses denominated in dollars.
The hike in airfare comes amid adjustments by both foreign and local airlines to account for the depreciation of the naira in the official foreign exchange market. As a result, one-way economy class tickets on international routes from Nigeria could now be sold for as high as N2 million.
Additionally, a new player, Uganda Airlines, has entered the Nigerian market, offering flight services between Western and Eastern African routes. The competition among airlines and the surge in demand have collectively led to a sharp increase in ticket prices, creating challenges for travelers during the holiday season.
